- Rezolute, Inc. (RZLT, Financial) successfully closed its underwritten offering, raising approximately $96.9 million in net proceeds.
- The offering included 24,940,769 shares of common stock priced at $3.25 per share and pre-funded warrants.
- Notable investors included Federated Hermes Kaufmann Funds, Blackstone Multi-Asset Investing, and Great Point Partners.
Rezolute, Inc. (RZLT), a biopharmaceutical company focused on therapies for rare diseases, has announced the successful closing of its underwritten offering. The company raised approximately $96.9 million in net proceeds from the sale of 24,940,769 shares of common stock at $3.25 per share, along with pre-funded warrants for additional shares at $3.2490 per warrant. This price reflects a 15.6% discount compared to the current share price of $3.85, which is common for biotech offerings.
The offering attracted significant interest from prominent institutional investors, including Federated Hermes Kaufmann Funds, Blackstone Multi-Asset Investing, and Great Point Partners, as well as Marshall Wace and Woodline Partners LP. The full exercise of the underwriters' option to purchase additional shares underscores the strong demand for Rezolute's stock.
Guggenheim Securities acted as the sole book-running manager, with BTIG, H.C. Wainwright & Co., and Jones as lead managers. The proceeds from this offering are earmarked for research and development, general corporate expenses, and working capital needs, providing Rezolute with a substantial financial runway to advance its clinical programs.
In addition to the public offering, existing investors have committed to purchasing up to an additional $4.2 million in a private placement expected to close around May 7, 2025. This dual-structure capital raise positions Rezolute well for continued growth and development of its lead antibody therapy, ersodetug, aimed at treating hyperinsulinism-related hypoglycemia.
